LeMaitre Vascular Inc. (LMAT) Rating Lowered to Hold at Zacks Investment Research
LeMaitre Vascular Inc. (NASDAQ:LMAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “LEMAITRE VASCULAR, INC. is a leading global provider of innovative devices for the treatment of peripheral vascular disease. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity reiterated a “buy” rating and set a $21.00 target price on shares of LeMaitre Vascular in a research note on Tuesday, September 6th. Brean Capital upped their target price on shares of LeMaitre Vascular from $17.50 to $20.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Sidoti cut shares of LeMaitre Vascular from a “buy” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Thursday, September 22nd. Finally, Barrington Research increased their price objective on shares of LeMaitre Vascular from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.83.
Shares of LeMaitre Vascular (NASDAQ:LMAT) opened at 24.42 on Tuesday. The company has a market capitalization of $453.80 million, a P/E ratio of 44.48 and a beta of 0.58. LeMaitre Vascular has a 52-week low of $12.03 and a 52-week high of $24.99. The firm’s 50 day moving average is $21.05 and its 200-day moving average is $17.66.
LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Wednesday, October 26th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The firm earned $19 million during the quarter, compared to analysts’ expectations of $22.20 million. LeMaitre Vascular had a net margin of 12.19% and a return on equity of 12.83%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. Equities research analysts anticipate that LeMaitre Vascular will post $0.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Monday, November 21st will be paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, November 17th. LeMaitre Vascular’s dividend payout ratio is 32.73%.
In other news, insider Peter R. Gebauer sold 3,431 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $18.20, for a total value of $62,444.20. Following the sale, the insider now owns 31,283 shares of the company’s stock, valued at approximately $569,350.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George W. Lemaitre sold 6,800 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $17.49, for a total transaction of $118,932.00. Following the completion of the sale, the chief executive officer now directly owns 3,491,564 shares in the company, valued at approximately $61,067,454.36. The disclosure for this sale can be found here. 28.90% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Blair William & Co. IL raised its stake in LeMaitre Vascular by 0.9% in the second quarter. Blair William & Co. IL now owns 16,389 shares of the company’s stock valued at $234,000 after buying an additional 140 shares during the last quarter. California State Teachers Retirement System raised its stake in LeMaitre Vascular by 0.7% in the third quarter. California State Teachers Retirement System now owns 28,521 shares of the company’s stock valued at $566,000 after buying an additional 200 shares during the last quarter. Rhumbline Advisers raised its stake in LeMaitre Vascular by 2.7% in the third quarter. Rhumbline Advisers now owns 11,552 shares of the company’s stock valued at $229,000 after buying an additional 300 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in LeMaitre Vascular by 0.6% in the third quarter. TIAA CREF Investment Management LLC now owns 80,068 shares of the company’s stock valued at $1,589,000 after buying an additional 508 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in LeMaitre Vascular by 6.7% in the second quarter. Nationwide Fund Advisors now owns 9,293 shares of the company’s stock valued at $133,000 after buying an additional 580 shares during the last quarter. 60.31% of the stock is currently owned by institutional investors and hedge funds.
LeMaitre Vascular Company Profile
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company and its subsidiaries develop, manufacture and market medical devices and implants used primarily in the field of vascular surgery. It operates in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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